US MIDDAY: soybeans down

Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Friday. Wheat steady to down 1 cent per bushel. Wheat pressured by disappointing weekly export sales and a firmer dollar, which tends to make US grain less competitive on the world market. No threat of winterkill this week in the US winter wheat belt. CBOT March wheat poised to test support at its 100-day moving average near $4.21.
CBOT March soft red winter wheat last down 1/2 cent at $4.23 per bushel; K.C. March hard red winter wheat down 2-1/2 cents at $4.39-3/4 a bushel; MGEX March spring wheat down 2-1/4 cents at $5.74-1/4. The US Department of Agriculture reported export sales in the week to January 12 at 242,500 tonnes of old-crop wheat, below trade expectations for 250,000-450,000 tonnes, and sales of 60,500 tonnes of new-crop wheat.
The Ethiopian government's purchasing agency reduced an international milling wheat tender to 400,000 tonnes from the 720,000 previously announced. Corn mixed up 1 cent per bushel to down 1 cent. Mixed in rangebound trade, with stronger-than-expected weekly US export sales data lending support. The USDA reported weekly export sales of 1,367,600 tonnes of old-crop corn, above a range of trade expectations for 900,000 to 1.2 million tonnes.
CBOT March corn last up 1/4 cent at $3.66-1/2 a bushel. Soyabeans down 5 to 7 cents per bushel. Heading lower for a second session on continued profit-taking and farmer selling after the March contract set a six-month high this week, tied to flooding in Argentina. The USDA reported export sales of 979,600 tonnes of old-crop soyabeans in the week to January 12, above a range of trade expectations for 400,000 to 600,000 tonnes. CBOT March soyabeans last down 7-1/4 cents at $10.63 per bushel.